Ellie Mae beats Street 4Q forecasts

Published 5:23 pm, Thursday, February 8, 2018

On a per-share basis, the Pleasanton, California-based company said it had net income of 28 cents. Earnings, adjusted for one-time gains and costs, were 33 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The provider of automation software for the mortgage industry posted revenue of $112.9 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $108.2 million.

For the year, the company reported profit of $52.9 million, or $1.48 per share. Revenue was reported as $417 million.

For the current quarter ending in April, Ellie Mae expects its per-share earnings to range from 7 cents to 9 cents.

The company said it expects revenue in the range of $107 million to $109 million for the fiscal first quarter.

Ellie Mae expects full-year earnings in the range of $1.68 to $1.78 per share, with revenue ranging from $495 million to $505 million.

Ellie Mae shares have dropped slightly more than 2 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $87.26, a decline of roughly 4 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ELLI at https://www.zacks.com/ap/ELLI